Used car sales set to accelerate, dealers say

China's secondhand automobile market will hit annual sales of more than 36 million units by 2023, a sixfold increase from 2013, the China Automobile Dealers Association said on Monday. Shen Rong, vice-president of the association, said that new and used unit sales will even out by 2023, which is a prime indicator for a mature automobile market, Beijing Business Today reported. The sales of secondhand cars increased twelvefold from 251,700 to 33.4 million between 2000 and 2009, according to the association. Sales are expected to reach 5 million units this year.